StockMarketWire.com - Aston Martin swung to a first-quarter loss on narrower margins as the luxury carmarker sold a lower number of higher priced cars.

The company reported a pre-tax loss of £17.3m, compared with a profit of £2.8m a year earlier, while revenue grew 6% year-on-year to £196m.

The uptick in revenue reflected 'modest' growth from vehicle sales, but unit growth was offset by a lower average selling price (ASP), the company said.

Total ASP fell to £160,000 in the quarter, down from £177,000 a year earlier.

The company said there was no change to its 2019 guidance and expected full-year results to be in-line with current market expectations amid an improved performance in the second half.

'The second half will be the major driver of profitability given the significant weighting of Specials in the fourth quarter. We also expect demand for core cars to follow a similar profile to prior years, with the fourth quarter expected to be our largest by units,' the company said.




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